Air Lease (NYSE:AL) Hits New 1-Year High at $51.40

Air Lease Co. (NYSE:AL) reached a new 52-week high on Thursday . The company traded as high as $51.40 and last traded at $51.22, with a volume of 46452 shares traded. The stock had previously closed at $50.76.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BMO Capital Markets boosted their target price on Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Barclays lifted their target price on shares of Air Lease from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, StockNews.com upgraded shares of Air Lease from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Air Lease presently has an average rating of “Moderate Buy” and an average price target of $51.50.

Air Lease Stock Up 1.9 %

The firm has a 50-day moving average price of $43.12 and a two-hundred day moving average price of $40.13. The company has a market capitalization of $5.76 billion, a P/E ratio of 9.86, a PEG ratio of 0.76 and a beta of 1.62. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, February 15th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.79. The company had revenue of $716.57 million for the quarter, compared to analyst estimates of $672.95 million. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The business’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. Equities research analysts anticipate that Air Lease Co. will post 5.64 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, March 14th. Air Lease’s dividend payout ratio is presently 16.31%.

Insiders Place Their Bets

In related news, EVP Kishore Korde sold 16,593 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $39.70, for a total value of $658,742.10. Following the completion of the transaction, the executive vice president now owns 112,375 shares of the company’s stock, valued at $4,461,287.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Air Lease news, EVP Kishore Korde sold 16,593 shares of Air Lease stock in a transaction on Monday, February 26th. The stock was sold at an average price of $39.70, for a total transaction of $658,742.10. Following the completion of the transaction, the executive vice president now directly owns 112,375 shares of the company’s stock, valued at $4,461,287.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Carol Hyland Forsyte sold 3,046 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the completion of the sale, the executive vice president now owns 72,073 shares in the company, valued at approximately $2,884,361.46. The disclosure for this sale can be found here. Insiders have sold 89,646 shares of company stock worth $3,705,152 over the last 90 days. Corporate insiders own 6.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Jump Financial LLC bought a new position in Air Lease in the 3rd quarter valued at $1,256,000. Natixis Advisors L.P. increased its stake in shares of Air Lease by 0.6% in the third quarter. Natixis Advisors L.P. now owns 186,241 shares of the transportation company’s stock valued at $7,340,000 after buying an additional 1,049 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Air Lease by 47.6% in the third quarter. Envestnet Asset Management Inc. now owns 938,826 shares of the transportation company’s stock valued at $36,999,000 after buying an additional 302,576 shares during the last quarter. Rhumbline Advisers lifted its position in Air Lease by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 117,134 shares of the transportation company’s stock worth $4,616,000 after buying an additional 2,423 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Air Lease in the 3rd quarter valued at about $5,982,000. 94.59% of the stock is owned by institutional investors and hedge funds.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.